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English definition of “overbid”

overbid

verb [I or T]     /ˌəʊvəˈbɪd/ (overbidding, overbid, overbid) FINANCE
to offer more money than someone in an attempt to buy something: They were overbid by a Japanese firm.
to offer too much money in an attempt to buy something: The Commission felt the company were overbidding and were not sure that they could raise the cash.
→ Compare underbid
(Definition of overbid verb from the Cambridge Business English Dictionary © Cambridge University Press)
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